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June 19, 2025
Question

Quickbooks Self Employed Business and Savings Accounts

  • June 19, 2025
  • 1 reply
  • 0 views

Hello,

 

Not sure if I chose the correct topic, but I need some advice.

 

I set up QuickBooks Self-Employed a few years ago, which is connected to my personal checking account that I used to track both my business and personal transactions. My business income went to that account, as I didn't separate my personal from business back then. I have a personal checking account and savings account.


Now I have an LLC corporation. I have a business checking account and a business savings account that I have been using since October 2024. My bank set it up so that I can log into my banking and get access to all 4 accounts (business and personal) quickly.

My questions are:

1. What is the best way to set up QuickBooks for my Business account?  Do I need to include my business savings account?

I have business transactions during 2024 in my personal checking account--QuickBooks is still connected. I had/have business transactions going into my business account during 2024 and 2025--QuickbBooks not connected to my business account.

I don't want to remove my past QuickBooks transactions from my personal account that recorded my business income transactions in 2024 and part of 2025. I'll need this data for filing taxes--I'm filing late for 2024.

2. Would it be easier for me to purchase QuickBooks Self-Employed again to connect to my business checking and business savings account? 

When I give QuickBooks my banking username and password, it will include all 4 accounts (business checking & savings + personal checking & savings). I don't have a separate username and password for just my business account.  

3. Should I disconnect QuickBooks from tracking transactions in my personal checking account, now that I have all business income going into my business checking account?


1 reply

Level 8
June 19, 2025

Hey there, @Oduwana

 

Welcome to the Community! I'd love to give you some information about using the banking features in QBSE. 

 

Based on all the details you gave, we recommend speaking with your accountant to see what accounts you'd need to include for your personal and business to ensure everything is tracked properly. 

 

However, anything pertaining to the business would be tracked better within the Online version of QuickBooks. Moving forward, you could connect the accounts that you need into a new QBO account. Use the link to find out more about QBO. 

 

In QBSE, keep your personal account connected until you're done with tax details so that you don't lose any of those transactions. 

 

Feel free come to back if you have any other concerns. I'm only a post away if you need me again!